Category: Card Schemes

I was never sure why the Competition and Markets Authority (CMA) allowed the UK’s shared ATM network to be sold to Mastercard. To me, it looked very much like Mastercard was being allowed to gain significant advantage over its rival card schemes. How can the CMA look at the relative situations of Visa and Mastercard in the transaction processing world and not conclude that there was a significant difference?

It’s not like it was just the LINK ATM network. They were given control over the account to account transfer services in the UK too: key financial infrastructure services that, in my opinion, should be managed centrally for the benefit of all.

If it is correct that the LINK TSG is being wound up, then it is clear that the management and control of the shared network is being transferred from the members to the “owner”. The implication is that the service provided to the members will then be that which the “owner” wants to deliver, rather than that requested by the members.

If we follow the bunny of conspiracy down the rabbit hole of destiny, as our eyes become accustomed to the darkness, will we see a future where the LINK ATM network has been mothballed, and all LINK ATM transactions are processed through the Mastercard network?

How can LINK commit to delivering ATM services in areas where ATM profitability is low, if LINK is not going to exist?